ARARATBANK attracts USD 5 million from EFSE to support MSMEs in Armenia
The European Fund for Southeast Europe (EFSE) reaffirms its commitment to fostering economic development in Armenia by providing a USD 5 million senior loan facility to its long-standing partner ARARATBANK. With this new facility, the partners aim to facilitate access to finance for micro-, small-, and medium-sized enterprises (MSMEs) and importantly those that are majority-owned or led by women and contribute to increased business competitiveness and inclusiveness in Armenia. ARARATBANK is a leading SME financier in the country with a proven strong track record in gender finance. EFSE’s investment will further solidify the Bank’s dedication to supporting women-owned or -led enterprises and promoting socio-economic empowerment and inclusiveness.
EFSE Regional Director Oxana Binzaru said: “We are honored to continue our journey with ARARATBANK, a trusted partner that shares our mission to foster economic development. This USD 5 million investment is a testimony to our joint commitment to supporting MSMEs, particularly women-owned or led enterprises, and making a meaningful impact on Armenia’s economic landscape.”
Mher Ananyan, Chairman of the Executive Board of ARARATBANK, concluded: “This strategic partnership reflects our commitment to fostering local economic progress and empowering MSMEs, which play a vital role in driving innovation, job creation, and overall economic stability. With the European Fund for Southeast Europe’s expertise in financing and our bank’s extensive network and resources, we are confident that this collaboration will have a significant impact on the business environment in Armenia.”